North American Construction Group Ltd. (NYSE:NOA) Q3 2021 Earnings Conference Call October 28, 2021 9:00 AM ET Company Participants Joe Lambert - CEO Jason Veenstra - CFO Conference Call Participants Tim Monachello - ATB Capital Markets Bryan Fast - Raymond James Maxim Sytchev - National Bank Financial Aaron MacNeil - TD Securities John Gibson - BMO Capital Markets Operator Good morning ladies and gentlemen. Welcome to the North American Construction Group Earnings Call for the third quarter ended September ...

1 S800 2021 Q3 EARNINGS PRESENTATION October 28, 2021 S8005 Q3 2 0 2 1 E A R NI NGS Forward-looking statements & Non-GAAP financial measures | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934 For the month of October 2021 Commission File Number 001-33161 NORTH AMERICAN CONSTRUCTION GROUP LTD. 27287 - 100 Avenue Acheson, Alberta T7X 6H8 (780) 960-7171 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. F ...

North American Construction Group Ltd. (NYSE:NOA) Q2 2021 Results Conference Call July 29, 2021 9:00 AM ET Company Participants Joe Lambert - CEO Jason Veenstra - CFO Conference Call Participants Aaron MacNeil - TD Securities Yuri Lynk - Canaccord Genuity Bryan Fast - Raymond James Tim Monachello - ATB Capital Markets Maxim Sytchev - National Bank Financial Richard Dearnley - Longport Partners Operator Good morning, ladies and gentlemen. Welcome to the North American Construction Group Earnings call for the ...

North American Construction Group Ltd. (NYSE:NOA) Q1 2021 Earnings Conference Call April 29, 2021 9:00 AM ET Company Participants Joseph Lambert - CEO Jason Veenstra - CFO Conference Call Participants Yuri Lynk - Canaccord Genuity Bryan Fast - Raymond James Maxim Sytchev - National Bank Financial Tim Monachello - AltaCorp Capital Devin Schilling - PI Financial Operator Good morning, ladies and gentlemen. Welcome to the North American Construction Group Earnings Call for the First Quarter ended March 31, 202 ...

1 Q1 2021 EARNINGS PRESENTATION April 29, 2021 Forward-looking statements & Non-GAAP financial measures 2 Q 1 2 0 2 1 E AR N I N G S This presentation contains forward-looking information which reflects the current plans and expectations of North American Construction Group Ltd. (the "Company") with respect to future events and financial performance. Examples of such forward-looking information in this document include, but are not limited to, statements with respect to the Company's targets for percentage ...

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Financial Data and Key Metrics Changes - Revenue for Q4 2020 was $137 million, a decline of $53 million or 28% year-over-year, primarily due to the impacts of COVID-19 [9][10] - Adjusted EBITDA for the quarter was $46.2 million, consistent with Q4 2019, despite a different macro environment [16] - Net income for the quarter included $6.6 million from the Canada emergency wage subsidy program, which reimbursed approximately 20% of employee costs [17][18] - General and administrative expenses were $6.3 million, representing 4.6% of revenue, consistent with 2019 [16] Business Line Data and Key Metrics Changes - Operating utilization in Q4 was 58%, up from a low of 24% in Q2, indicating a recovery in operational performance [11] - Gross profit margin for the quarter was 17%, supported by effective fleet utilization and disciplined cost management [13] - The company expects to adapt its reporting to reflect diversification efforts in Q1 2021 [12] Market Data and Key Metrics Changes - The company noted strong resiliency in oil sands mines, with improved access and safety protocols leading to increased productive operating hours [10] - The bid pipeline includes approximately $400 million to $500 million in satellite mine opportunities, indicating a focus on lower capital intensity projects [45] Company Strategy and Development Direction - The primary focus for 2021 includes health and safety, equipment utilization, and diversification into low capital intensity growth areas [23][24] - The company plans to expand its maintenance facility to enhance external maintenance service capacity and reduce field labor demand [26] - A strategic goal is to increase EBIT targets from 40% to 50% by the end of 2022, driven by demand in various resource areas [32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery and stability of the business environment moving into 2021, with expectations for continued demand in resource areas [36] - The outlook for 2021 remains unchanged, with a midpoint expectation of $70 million in free cash flow, which is about 20% of net debt [36] Other Important Information - The company is focused on maintaining tight controls on SG&A spending and ensuring administrative costs are effective and efficient [26] - The expansion of the maintenance facility includes a solar array expected to supply about 15% of electrical demand, contributing to sustainability goals [26][81] Q&A Session Summary Question: Can the company meet its 2021 revenue diversification goal with current resources? - Management indicated that the 2021 forecast does not anticipate new contract awards, and the increase in 2022 targets is based on expectations of winning external awards [39] Question: What percentage of the bid book consists of satellite mine opportunities? - Approximately $400 million to $500 million in satellite mine opportunities are being considered, focusing on nearer-term projects [45] Question: Are there signs of returning opportunities in oil sands projects? - Management noted that summer construction tenders typically do not appear until late February to April, and they have not seen significant opportunities return yet [46] Question: Is the company operating at full capacity in the component rebuild facility? - The facility is operating at full capacity, and savings in average component costs have met or exceeded expectations [53] Question: What is the expected payback period for the shop expansion investment? - The expected payback period for the shop expansion is approximately three years, similar to previous investments [61] Question: Is there interest in M&A opportunities? - Management is observing some activity in M&A but is focused on capital-conscious opportunities that fit their diversification strategy [54][70]

Financial Data and Key Metrics Changes - Revenue for Q3 2020 was $94 million, a 43% year-over-year decline due to COVID-19 impacts and adverse weather conditions [21][7] - Sequentially, revenue increased by 33% from Q2 2020, indicating a gradual recovery [7][23] - Adjusted EBITDA was $37.1 million, nearly equal to Q2 2019 levels despite lower revenue [30] - Free cash flow was temporarily negative due to working capital changes, but cash provided by operations was $26.3 million [34][36] Business Line Data and Key Metrics Changes - The Nuna Group of Companies performed well, matching their Q3 2019 record, but their revenue does not directly impact the company's reported revenue [24] - Gross profit margin for the quarter was 16.3%, affected by wet operating conditions and increased mobilization costs [25][26] - Direct general and administrative expenses were $3.6 million, consistent with Q2 2020, reflecting improved revenue percentage [28] Market Data and Key Metrics Changes - The company faced significant operational challenges due to site access restrictions and wet weather, impacting productivity [5][21] - The oil sands market showed resilience, with expectations for increased productive operating hours as access restrictions ease [23] Company Strategy and Development Direction - The company is focusing on diversification, aiming to lower capital intensity and improve utilization of underutilized fleet [16][17] - Strategic milestones achieved include the Nuna acquisition and new contracts in U.S. mine management, which are expected to yield long-term benefits [18][19] - The company anticipates a robust pipeline of opportunities, particularly in infrastructure projects and resource mining [43][61] Management's Comments on Operating Environment and Future Outlook - Management expressed hope for a return to pre-pandemic activity levels by late fall 2020, but acknowledged potential delays due to COVID-19 [51] - The outlook for 2021 includes expectations for EBITDA and free cash flow to be 15% and 40% higher than 2020, respectively [42][44] - The company plans to prioritize debt reduction and share buybacks in 2021 capital allocation [45] Other Important Information - The company will issue its inaugural ESG report in Q1 2021, highlighting its commitments and accomplishments in environmental, social, and governance areas [11] - The Canada Emergency Wage Subsidy program significantly aided in retaining workforce levels during the pandemic [32][33] Q&A Session Summary Question: When do you anticipate activity levels in the oil sands will return to pre-pandemic levels? - Management is hopeful for a return in Q4 2020, but acknowledges potential delays into 2021 due to recent COVID-19 case increases [51] Question: Should revenue be expected to grow in excess of 15% next year? - Management indicated that revenue growth is expected to correlate with EBITDA growth, with no differing margins anticipated year-over-year [52][53] Question: Is the new joint venture with Nuna a special purpose relationship? - The joint venture is designed to leverage both companies' strengths for bidding on projects, enhancing their competitive position [58][60] Question: What is the impact of weather on revenue loss? - The estimated impact of weather and COVID-19 on revenue loss is between $30 million to $40 million [72] Question: Are pricing concessions plateauing? - Management believes pricing concessions have plateaued and expects normal market escalators to improve pricing over time [84] Question: Will the gold mining project require additional capital? - The project will utilize underutilized smaller equipment, requiring modest capital and not detracting from oil sands operations [63][79] Question: How does the new joint venture differ from the previous arrangement with Nuna? - The new joint venture is a 50-50 partnership, allowing for combined bidding and resource sharing, differing from the previous 49-51 ownership structure [96][97]

1 Q3 2020 EARNINGS PRESENTATION October 29, 2020 Forward-looking statements & Non-GAAP financial measures Q 3 2 0 2 0 E AR N I N G S | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...